Cubist outlines five-year strategy
Cubist Pharmaceuticals Inc. (NASDAQ:CBST) announced goals to almost triple annual revenues by year end 2017 and move four product candidates in late-stage clinical trials. At an investor meeting on Monday, Cubist said it hopes to generate $2 billion in annual revenues and $700 million in non-GAAP annual adjusted operating income. The company expects U.S. sales of antibiotic Cubicin daptomycin to grow to $1 billion by year end 2017, up from $698.8 million in 2011. Cubist also expects annual sales of gastrointestinal drug Entereg alvimopan to approach $100 million in the same period; the drug recorded U.S. sales of $2.5 million in 2011. Cubist reported $754 million in total revenue in 2011.
Cubist's most advanced pipeline product is CXA-201, a combination of the cephalosporin antibiotic CXA-101 and the beta lactamase inhibitor tazobactam, in Phase III testing to treat intra-abdominal infection and urinary tract infection (UTI). The company has two products in Phase II testing: CB-5945 for opioid-induced constipation; and CB-183,315 for Clostridium difficile-associated diarrhea (CDAD). ...